Published 15 hours ago
EOS Price Prediction: The EOS coin daily time frame chart shows a texted book example of a rounding bottom pattern. The technical chart easily displays the three stages of the pattern, the prior downtrend, the sideways accumulation, and the upcoming recovery. Amid the ongoing rally, the coin price reclaimed the 200-day EMA offering an additional confirmation for further rally.
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Key points:
- A rounding bottom pattern sets the EOS price rally to reach the $1.872 mark
- The 50-day EMA dynamic support is carrying the ongoing uptrend.
- The intraday trading volume in the EOS is $220.7 Million, indicating a 90% gain
Source- Tradingview
Under the influence of the rounding bottom pattern, the EOS price has witnessed a slow yet steady recovery in the daily time frame. Amid the recent sell-off in the crypto market, the EOS price witnessed an occasional correction in February’s fourth week.
However, on February 26th, the coin price bounced back from the $1.1 support, indicating the traders followed the sentiment of buying on dips. With the uptrend continuation, the coin price registered a 40% growth since the January 1st low, where it currently trades at $1.17.
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Today, the EOS price shows a 4.2% jump and tries to breach the 200-day EMA. With sustained buying, the buyer will drive the prices 8% up to challenge the $1.28 swing high resistance. Furthermore, If the bullying pressure persists, a breakout above $1.28 will signal the resumption of a bullish recovery.
Anyhow, under the influence of the rounding bottom pattern, the ongoing bull should chase the neckline resistance of $1.871.
Technical Indicator
EMAs- the 50-day EMA offers strong support during the occasional pullback, making a high accumulation zone.
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RSI– A daily-RSI slope managed to sustain above the midline indicates the market sentiment in favor of buyers.
EOS Coin Price Intraday Levels
- Spot rate: $1.17
- Trend: Bullish
- Volatility: Low
- Resistance levels- $1.2 and $1.25
- Support levels- $1 and $0.886
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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- Source: https://coingape.com/markets/eos-price-prediction-can-eos-coins-next-recovery-cycle-surpass-1-5-mark/
